Talent, Strategy, Risk - McNabb, Bill

Résumé :

Over 200 Business Roundtable CEOs publicly rebuke the idea of shareholder primacy. The world's largest investment management company, BlackRock, requires all companies in their portfolio to demonstrate a path for long-term value creation. Institutional investors, who own 60% of Fortune 500 companies, expect leaders to keep the short term and long term in proper balance. Three experts put these radical developments into perspective for boards and define the board's new agenda—centered on three critical areas of talent, strategy, and risk—to escape the traps of short-termism and drive long-term value creation.

• Provides a call-to-action to rethink corporate governance.
• Describes how a monumental shift in company ownership and shareholder expectations affects directors and executives of public companies.
• Helps directors and executives respond to the changing expectations of institutional investors, with a clearly defined new approach to corporate governance that puts long-term value creation over short-term returns.
• Leading edge examples from investors, directors, and executives.
• Includes many in-depth interviews with key players in the new governance landscape.

Audience: Directors, C-suite and senior leaders, investors and analysts, public regulators and governance raters.

Biographie:

Bill McNabb is former Chairman and CEO of Vanguard, the world's second-largest mutual fund manager, with over dollars5 trillion in assets. Ram Charan is a world-renowned business adviser, author, teacher, and speaker who has spent the past forty years working with the CEOs, boards, and executives of the world's top companies. He is the author or coauthor of twenty-five books that have sold over four million copies, including Boards That Lead and Talent Wins (both coauthored with Dennis Carey). In addition to advising and coaching leaders, Charan serves on several boards in the United States, Turkey, China, India, and Brazil. In his work as an adviser, he has helped boards and senior leaders rethink and redesign their governance practices. Dennis Carey is Vice Chairman of Korn Ferry. He has recruited and assessed board directors and CEOs for some of the world's best-performing companies, and his CEO placements have returned extraordinary value to shareholders of Ford, Humana, 3M, Tyco, and GSK, among many others. He is the founder of The Prium and the CEO Academy and has coauthored seven books on talent, strategy, CEO succession, and corporate governance, including Boards That Lead and Talent Wins.

All three authors teach extensively in executive education at Harvard, Wharton, and Columbia.

Sommaire:
A playbook for long-term value creation. Balancing the short term and the long term is a perennial struggle, but new developments put boards squarely at the center of this dilemma and in need of guidance. Much of the $14 trillion of assets that firms like Vanguard, BlackRock, and State Street manage is now held in index funds, creating a huge class of permanent institutional investors. These so-called passive investors (unlike activist investors, passive investors don't have power to exit the fund) own almost 60 percent of the Fortune 500-and they have found their voice. Perhaps best exemplified by BlackRock's Larry Fink, these investors are stating in no uncertain terms that simply managing for short-term shareholder profit is not acceptable. In this agenda-setting book, three leaders who have been on the front lines of these changes with boards, management teams, and the investment community challenge leaders to rethink TSR (total shareholder return). Since TSR cannot keep the short and long term in balance, McNabb, Charan, and Carey argue that boards should focus on a different kind of TSR-talent, strategy and risk-because decisions and actions around these factors, more than any others, determine whether or not a company creates long-term value. Offering boards a playbook for managing talent, strategy, and risk, the authors explain how to: analyze the business through the eyes of a shareholder activist, help management take a longer view and communicate it to investors, track execution of long-term plans and goals, keep major risks, such as cyberattacks and sexual harassment, front and center, refresh board composition and create diversity to meet the new challenges. Given the new realities of corporate ownership, boards need to lead for the long term. This authoritative book shows them how--...